The CEO of the National Housing Company “NHC,” Engineer Mohammed bin Saleh Al-Bati, revealed that spending in the real estate sector has exceeded 500 billion riyals over the past few years. He noted that the company has contributed to increasing the supply of residential units by more than 146,000 units of various designs and types.

Al-Bati explained, during his participation in the first edition of the “Future of Real Estate Forum,” which was held over two days in Riyadh, that the company plans to add 300,000 units by 2025, with investments exceeding 200 billion riyals, with the aim of increasing the homeownership rate among Saudi families to 70 % in line with the targets of the Kingdom’s Vision 2030. He noted that National Housing has contributed approximately 20 % to the sector’s total over the past four years, since the housing program began.

The CEO of National Housing Corporation emphasized that government support for the real estate sector encompasses several phases, most notably supporting housing loans for beneficiaries and providing incentives to developers worth over 13 billion riyals in the first phase, support for infrastructure development and increasing the real estate supply by 36 billion riyals. He noted that the integrated framework of laws and administrative procedures is designed to empower the real estate sector, facilitate off-plan sales, provide data, information, and statistics, and activate the role of the private sector, National Housing Company (NHC) has also worked to qualify and support more than 75 real estate developers to date.

It is worth noting that NHC’s participation in the forum stems from its strategy to support and promote various local real estate events and activities that contribute to the development of the real estate sector, in line with the core pillars of the Kingdom’s Vision 2030.